Wednesday, April 24, 2024

Logo Central America Link

Textile firms swim against current of crisis in Nicaragua

Tuesday, September 11, 2018

The crisis facing Nicaragua has delayed deliveries and a reduction in production levels, but the garment and textiles companies are growing by 1.5 percent in volume and 5.2 percent in value through July, compared with the same period of last year.

In the first seven months of the year, Nicaragua received $886 million, compared with $842 million in sales to the United States a year earlier, in sales to the United States, which buys 90 percent off the output of the free zones.

Even so, Dean García, director of the industry group Anitec, that the figure for growth had dropped. "Earlier we were registering 5 to 6 percent growth."